Adobe Inc. (NASDAQ:ADBE) Holdings Lifted by First American Trust FSB

First American Trust FSB increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 17,364 shares of the software company’s stock after acquiring an additional 37 shares during the quarter. First American Trust FSB’s holdings in Adobe were worth $7,721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the 3rd quarter worth approximately $26,000. Groupama Asset Managment grew its position in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after buying an additional 11,522 shares during the last quarter. True Wealth Design LLC grew its position in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Adobe in the fourth quarter valued at $31,000. Finally, Caitlin John LLC lifted its position in shares of Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after acquiring an additional 48 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ADBE shares. Jefferies Financial Group cut their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Barclays cut their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. UBS Group set a $495.00 target price on shares of Adobe in a report on Thursday, March 13th. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $538.80.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Daniel Durn purchased 1,300 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $394.47 on Tuesday. The company has a 50 day moving average price of $433.88 and a two-hundred day moving average price of $473.88. Adobe Inc. has a 12-month low of $374.50 and a 12-month high of $587.75. The stock has a market capitalization of $171.75 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the prior year, the company posted $4.48 earnings per share. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.